The company’s quarterly net sales of $500.4 million missed the Zacks Consensus Estimate of $501 million by 0.1%. However, revenues grew 4.4% from the year-ago figure of $479.4 million, mainly on account of growth in sales witnessed at the Aerospace segment.

Operational Update

Woodward’s total costs and expenses increased 5.9% year over year to $450.1 million in the reported quarter. The upside was backed by higher cost of goods sold, selling, general, and administrative expenses as well as interest expenses.

Quarterly Segmental Performance

Aerospace: Segment revenues were up 10.3% year over year to $320.5 million, primarily driven by higher OEM and aftermarket sales in both defense and commercial markets.

Earnings came in at $58.2 million, up 15.1% on the back of higher sales volume.

Again, earnings tanked 12.2% to $17.1 million primarily due to lower sales volume and planned increase in new facility costs, which was partially offset by savings related to major cost reduction initiatives that had been implemented previously.

Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.